Zealand announces amendment to its Articles of Association following warrant issuance

April 04, 2014 03:59 ET | Source:Zealand Pharma A/S

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Copenhagen, 2014-04-04 09:59 CEST (GLOBE NEWSWIRE) --
Copenhagen, 4 April 2014 ─ Zealand Pharma (“Zealand”) (NASDAQ OMX Copenhagen: ZEAL) announces that a total of 100,000 new warrants have been issued to Torsten Hoffmann, Executive Vice President and Chief Scientific Officer. The warrants have been issued under an existing warrant incentive scheme, established by the company’s Board of Directors under the authority provided by Section 8.1 of the Articles of Association as announced in Company Announcement no. 5/2014 of 1 April 2014.

The issued warrants give right to the subscription of up to 100,000 new Zealand shares of a nominal value of DKK 1 each at an exercise price of DKK 75.90.

For further description of the issued warrants and the terms of the warrant program, reference is made to Company Announcement no. 5/2014.

The amendment of Zealand’s Articles of Association entailed by the issue of new warrants has today been registered with the Danish Business Authority. The new Articles of Association are attached to this announcement and are also available on the company’s website: www.zealandpharma.com.

Zealand Pharma A/S (NASDAQ OMX Copenhagen: ZEAL) (“Zealand”) is a biotechnology company based in Copenhagen, Denmark. Zealand specializes in the discovery, optimization and development of novel peptide drugs and has a broad and mature pipeline of drug candidates identified through its own drug discovery activities. The company’s focus lies in the field of cardio-metabolic diseases, diabetes and obesity in particular, and its lead drug invention is lixisenatide, a once-daily prandial GLP-1 agonist, which is licensed to Sanofi for the treatment of Type 2 diabetes. Lixisenatide (marketed by Sanofi as Lyxumia®) is approved in several countries globally, including Europe and Japan. In the U.S., an NDA is planned to be submitted in 2015, after completion of the ELIXA Cardiovascular outcome study. In February 2014, Sanofi started the pivotal Phase 3 clinical program for the Lantus®/Lyxumia® combination product (LixiLan).

Zealand has a partnering strategy for the development and commercialization of its products and, in addition to the license agreement with Sanofi in Type 2 diabetes, the company has partnerships with Boehringer Ingelheim in diabetes/obesity, Lilly in diabetes and obesity, Helsinn Healthcare in chemotherapy induced diarrhea and AbbVie in acute kidney injury.

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